In a report, Alex Thorn, Head of Research at Galaxy Research, stated that the Bitcoin bear market ended in June, and now is the time to buy and hold. Supporting factors include: Bitcoin closing above its 50-week moving average for five consecutive weeks as of October 18th; the average monthly movement of Bitcoin in wallets inactive for over five years decreasing from 67,000 in 2024 to 47,000 in 2025 and 34,000 in 2026, with approximately 1.11 million BTC moving since October 2024; and the US federal debt reaching $40.44 trillion. Thorn indicated that a bottom has been reached, selling pressure is weakening, and the logic of hedging against depreciation is strengthening. Bitcoin traded above $80,000 on Monday, approximately 36% lower than the record high of around $126,000 in October 2025. If the weekly close falls below the 50-week moving average of $76,540 and fails to recover within a month, this bullish outlook will be challenged. (Source: The Block)
